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March 28, 2024

[EQUIITES] ‘Naver, Mirae Asset Daewoo to expand overseas’

PUBLISHED : June 27, 2017 - 17:43

UPDATED : June 27, 2017 - 17:43

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[THE INVESTOR] Naver and Mirae Asset Daewoo’s cross-purchasing stakes widens horizon for both companies, said Daishin Securities on June 27.




Naver will tackle financial markets in Japan, Taiwan, Thailand and Indonesia where its messenger application Line has a strong market share, said analyst Kim Yun-jin. 

Its growth has been centered on mobile advertisement and shopping, but long-term growth momentum for its new finance sector will materialize with a payment service, and its second-quarter earnings will meet market expectations, said the analyst maintaining a “buy” recommendation and 980,000 won (US$862.68) target price.

Mirae Asset Daewoo’s equity capital increased by 379 billion won while burden of its treasury stock overhang decreased. In the mid- to long-term, it may secure a sales platform utilizing that of the internet giant, noted Kim. 

Its financial gain might be insignificant but in terms of anticipation for possible business expansion, the move is positive, according to the analyst who maintained a “buy” recommendation and 11,000-won target price.

By Hwang You-mee (glamazon@heraldcorp.com)

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